Editor’s Note: Don Vialoux was a guest on “Wolf on Bay Street”. The show is to be released on Saturday on Corus Radio 640 at 7:00 PM EDT. Comments focused on outlook for North American equity market between now and release of fourth quarter corporate reports in January.

Pre-opening Comments for Friday October 25^th

U.S. equity index futures were higher this morning. S&P 500 futures added 17 points at 8:35 AM EDT.

S&P 500 futures unchanged following release of September U.S. Durable Goods Orders at 8:30 AM EDT. Consensus was a 1.0% drop versus unchanged in August. Actual was a 0.8% drop

Dexcom dropped $10.90 to $64.00 after lowering guindance.

Capital One Financial gained $4.76 to $158.02 after reporting higher than consensus third quarter earnings.

Capri plunged $20.41 to $21.19 after a judge blocked its takeover by Tapestry.

Olin dropped $4.26 to $40.78 after reporting a third quarter loss.

 

EquityClock’s Stock Market Comment for October 25^th

Palladium, an Accumulate candidate, is surging above a bottoming pattern as its period of seasonal strength gets underway. See:

https://equityclock.com/2024/10/24/stock-market-outlook-for-october-25-2024/

Editor’s Note

Due to a previous commitment, there will be no pre-opening comment available on Monday, October 28th.

 

Technical Notes

Palladium ETN $PALL moved above $102.00 extending an intermediate uptrend.

Biotech ETF $BBH moved below $173.21 and $171.08 completing an intermediate topping pattern.

United Parcel $UPS an S&P 100 stock moved above $136.93 extending an intermediate uptrend. Responded to higher than consensus third quarter results!

Keurig Dr. Pepper $KDP a NASDAQ 100 stock moved below $35.94 completing a double top pattern. Third quarter revenues were less than consensus.

Newmont $NEM an S&P 100 stock moved below $51.82 and $50.01setting an intermediate downtrend. Reported less than consensus third quarter earnings!

Metro $MRU.TO a TSX 60 stock moved below Cdn$82.24 completing a double top pattern.

 

Trader’s Corner

Equity Indices and Related ETFs

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for October 24^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for October 24^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

TSLA Soars After Hours on Strong Results! Tom Bowley

TSLA Soars After Hours on Strong Results! – YouTube

 

Is Peter Schiff Right About the Imminent Financial Peril? David Keller

Is Peter Schiff Right About the Imminent Financial Peril? – YouTube

 

Tesla Stock Soars After Earnings Report:Guy Adami, DanNathan, Carter Worth

Tesla Stock Soars After Earnings Report – YouTube

 

Is This The Beginning Of The Election Jitters? | Profit Pilot

Is This The Beginning Of The Election Jitters? | Profit Pilot – YouTube

 

‘Too many unknowns’ with election & market to be overweight megacaps, says Clockwise’s Cakmak

‘Too many unknowns’ with election & market to be overweight megacaps, says Clockwise’s Cakmak – YouTube

 

Goldman Sees S&P Returning 3% Over 10 Next Years: David Kostin

Goldman Sees S&P Returning 3% Over 10 Next Years – YouTube

 

Chart of the day: Palladium ETN (Symbol: PALL)

 

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 1.00 to 62.60. It remains Overbought. Daily momentum trend remains down.

The long term Barometer dropped 1.20 to 72.80. It remains Overbought. Daily momentum trend turned down.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 0.90 to 74.89. It remains Overbought.

The long term Barometer added 1.35 to 78.92. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

More from the network: Stock Market Outlook for October 25, 2024 Stock Market Outlook for October 24, 2024 Stock Market Outlook for October 23, 2024 Stock Market Outlook for October 22, 2024 Stock Market Outlook for October 21, 2024